Pembina Pipeline Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced that it intends to exercise its option to redeem all of its outstanding $150,000,000 aggregate principal amount of senior unsecured medium-term notes, series 19 (the "Series 19 Notes") due June 22, 2026 for cash on November 17, 2024 (the "Redemption Date") at a redemption price of approximately $1,023.19 for each $1,000 principal amount of Series 19 Notes, being equal to the outstanding principal amount thereof, plus accrued but unpaid interest thereon to, but excluding, the Redemption Date (the "Redemption"). The Redemption will be funded through a combination of cash on hand and use of the Company’s credit facility.
Additional terms and conditions regarding the Redemption will be provided in the notice of the Redemption to be delivered to CDS Clearing and Depository Services Inc. ("CDS"), the sole registered holder of the Series 19 Notes, in accordance with the trust indenture governing the Series 19 Notes. Non-registered holders of Series 19 Notes who maintain their interest through CDS should contact their CDS customer service representative with any questions about the Redemption. Alternatively, non-registered holders of Series 19 Notes with any questions about the Redemption should contact the broker or other financial intermediary who holds interests in the Series 19 Notes on their behalf.
The Series 19 Notes were issued pursuant to pricing supplement no. 5 dated June 20, 2023 to the short form base shelf prospectus of Pembina dated November 29, 2021, copies of which are available on Pembina's SEDAR+ profile at www.sedarplus.ca.
